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What is BakeryToken (BAKE)?

BakeryToken basic info

Name:BakeryToken
Ticker:
Introduction:

What Is BakeryToken?

BakeryToken is a fundamental component of BakerySwap, a decentralized automated market-maker (AMM) protocol built on the BNB Chain. Launched in September 2020, BakerySwap distinguishes itself by combining the functionalities of a decentralized exchange (DEX) with a unique focus on non-fungible tokens (NFTs). This integration of DeFi and NFTs positions BakerySwap as a versatile platform in the blockchain ecosystem.

The platform operates without an order book, instead utilizing liquidity pools for token swaps. This approach aligns with the AMM model, where liquidity is provided by users, and prices are determined algorithmically based on supply and demand within each pool. BakeryToken, or BAKE, is the native token of BakerySwap, playing a crucial role in the platform's governance and operational mechanics.

Resources

Official Website: https://www.bakeryswap.org/#/home

How Does BakeryToken Work?

BakeryToken operates at the core of BakerySwap's ecosystem. Users who provide liquidity to the platform's pools are rewarded with liquidity pool tokens (BLPs). These tokens can then be staked to earn BAKE, the platform's native token. BakerySwap charges a transaction fee of 0.30% on trades, with a portion of this fee distributed to liquidity providers and the remainder converted into BAKE tokens, which are then distributed to BAKE holders.

The platform's unique point is its integration of NFTs. BakerySwap hosts the Bakery NFT Supermarket, a marketplace for trading and minting NFTs. This feature not only diversifies the platform's offerings but also attracts a broader audience, including those interested in the burgeoning NFT market. Users can mint NFT Combos by locking up BAKE tokens, which in turn can increase their staking rewards.

What Is BAKE Token?

BAKE is the BEP-20 native token of BakerySwap, serving multiple functions within the platform. It is used for governance, allowing token holders to vote on key decisions and proposals that shape the platform's future. Additionally, BAKE serves as a reward mechanism for liquidity providers and participants in the platform's various staking pools.

What Determines BakeryToken’s Price?

The price of BakeryToken (BAKE), like many cryptocurrencies, is influenced by a complex interplay of factors typical in the blockchain and cryptocurrency markets. Primarily, the demand and supply dynamics within the BakerySwap ecosystem play a crucial role. As BakerySwap's functionalities, particularly in decentralized finance (DeFi) and non-fungible tokens (NFTs), gain traction, the demand for BAKE increases, potentially driving up its price. This demand is often fueled by the platform's innovative features, such as liquidity pools, NFT trading, and staking rewards, which attract both DeFi enthusiasts and NFT collectors. Additionally, the overall performance and adoption rate of the BNB Chain, on which BakerySwap operates, also significantly impact BAKE's value. As BNB Chain becomes more popular due to its low transaction fees and high transaction speed, platforms like BakerySwap, and by extension BAKE, stand to benefit.

Moreover, broader market sentiments and trends in the cryptocurrency world influence BAKE's price. Investor perception, media coverage, and general attitudes towards cryptocurrencies can cause price fluctuations. Regulatory news, technological advancements within the blockchain sector, and developments in competing platforms also play a role. For instance, positive updates or successful partnerships related to BakerySwap can boost investor confidence, leading to a price increase. Conversely, negative news or advancements in rival DeFi platforms can lead to a decrease in BAKE's price. Given the volatile nature of cryptocurrencies, BAKE's price is subject to rapid changes, reflecting the dynamic and often unpredictable nature of the crypto market.

For those interested in investing or trading BakeryToken, one might wonder: Where to buy BAKE? You can purchase BAKE on leading exchanges, such as Bitget, which offers a secure and user-friendly platform for cryptocurrency enthusiasts.

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Current price:
All-time high:$8.48
All-time low:$0.007567

BAKE supply and tokenomics

Circulating supply:289,770,500 BAKE
Total supply:289,770,511.79 BAKE
Max supply:0 BAKE
Market cap:$76.95M
Fully diluted market cap:$76.95M
Tokenomics:

Uniqueness

Bakery Swap runs on the Binance Smart Chain. The BAKE-BNB pool is expected to provide ten times the rewards compared to other pools.

BakerySwap, a Binance Smart Chain-based AMM, offers liquidity pools for altcoins such as LINK, DOT and others. It works through initial liquidity pools. BakerySwap has two types of liquidity pools: with BAKE rewards and without them. This is done in order to facilitate the creation of new liquidity pools by the community.

Only designated pools will have BAKE rewards. The reward multiplier for each will vary based on the value they provide to BAKE holders.

BakerySwap charges a 0.30% fee on all swaps and trades, out of which 0.25% go to liquidity providers.

The liquidity providers are then given liquidity pool tokens that represent their share of each pool. Through these tokens, they can earn a portion of the fees that are collected in the pools when removing the liquidity. Liquidity providers can then stake Bakery LP tokens to farm BAKE token rewards.

Token utility

The BAKE token is a native BEP-20 governance token on the platform. Users have the ability to earn BAKE tokens by providing liquidity on BakerySwap, and BAKE holders can use their tokens for governance voting and to receive transaction fee dividends.

Links

Buy BakeryToken for $1Buy BAKE now

What is the development prospect and future value of BAKE?

The market value of BAKE currently stands at $76.95M, and its market ranking is #535. The value of BAKE is not widely recognized by the market. When the bull market comes, the market value of BAKE may have great growth potential.

As a new type of currency with innovative technology and unique use cases, BAKE has broad market potential and significant room for development. The distinctiveness and appeal of BAKE may attract the interest of specific groups, thereby driving up its market value.

What will the price of BAKE be in 2025?
Based on BAKE's historical price performance prediction model, the price of BAKE is projected to reach $0.3292 in 2025.
What will the price of BAKE be in 2030?
In 2030, the BAKE price is expected to change by 0.00%. By the end of 2030, the BAKE price is projected to reach $0.6147, with a cumulative ROI of +140.28%.
Reminder: Just like all cryptocurrency investments, investors must closely monitor the market performance of BAKE and be aware of the associated risks. The world of cryptocurrencies is full of uncertainties, so thorough research and preparation are essential.

Is BAKE worth investing or holding? How to buy BAKE from a crypto exchange?

If you want to buy BAKE, the following information may be helpful for your investment decisions:
In the last 7 days, the price of BAKE has fallen by -22.84%, leading to negative returns for most BAKE investors. The market is currently pessimistic about the price trend of BAKE.
It is important to note that the current price of BAKE has retreated by -96.87% from its all-time high. This coin is currently considered high-risk, and while its price may rebound in the future, there is significant uncertainty.
Additionally, it's important to understand that each coin has its own optimal times for buying and selling. The optimal time to invest is dynamic: when a coin is undervalued, it's wise to adopt a buying strategy; when it becomes overvalued, you should decisively sell the coin.
To decide whether BAKE is worth investing in, you need to consider various market factors such as the overall trend of the cryptocurrency market, the project's fundamentals, its current market valuation, and whether the current price is suitable for buying. If the project's fundamentals suddenly change or the price becomes excessively high, you should adjust your investment strategy and trading operations accordingly.
Your investment decisions should be based on your own risk tolerance, financial status, market analysis and research, especially the timing of your investments. Correct timing can ensure more reliable returns. Keep in mind that investing in BAKE or any cryptocurrency comes with certain risks and uncertainties.
Regardless of your outlook on the development prospects and future trends of BAKE, if you want to buy or sell BAKE, you can consider Bitget for your trading needs. The best place to buy BAKE is an exchange that offers hassle-free and secure transactions, combined with a user-friendly interface and high liquidity. Every day, millions of users choose Bitget as their trusted platform for crypto purchases.
Investing in BakeryToken has never been easier. Simply sign up on Bitget, complete the identity verification process, and make payments using bank transfers, debit cards, or credit cards, all while ensuring security through crypto wallets. This is a widely adopted method to buy BakeryToken. Here's a step-by-step guide on how to buy BakeryToken on Bitget.

How to get BakeryToken through other methods?

Using cash to buy BakeryToken is not the only way to obtain BakeryToken. If you have the time to spare, you can get BakeryToken for free.
Learn how to earn BakeryToken for free through the Learn2Earn promotion.
Earn free BakeryToken by inviting friends to join Bitget's Assist2Earn promotion.
Receive free BakeryToken airdrops by joining ongoing challenges and promotions.
All crypto airdrops and rewards can be converted to BakeryToken through Bitget Convert, Bitget Swap, or spot trading.

What is BakeryToken used for and how to use BakeryToken?

The use case of BakeryToken may expand as the crypto market and the project itself develop. Currently, you can use BAKE to achieve the following goals:
Arbitrage by trading BAKE: Since BAKE is a frequently traded cryptocurrency, the price of BAKE is always fluctuating. Earn more BAKE by buying low and selling high on the exchange. Bitget spot market provides a variety of BAKE trading pairs to fully meet your needs.
Earn by staking BAKE: You can also generate income through financial management methods such as staking BAKE or lending BAKE. Bitget Earn offers a variety of financial products designed to help you earn more income from your BAKE.
Send or pay BAKE: If you want to give BAKE to your friends, a charity, or a fundraiser, or you want to pay someone with BAKE, you can quickly and easily send BAKE to the recipient through their payment address.
You can also go to the official website of the BakeryToken project to learn more about the use cases of BAKE. For example, find out if the project supports the use of within its community or ecology, or if the project allows you to purchase physical or virtual products in .

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BAKE resources

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https://img.bitgetimg.com/multiLang/develop/web/BNB.png
BNB Smart Chain (BEP20)
0xE02d...68902c5
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wallet
Links
BakeryToken WebsiteBakeryToken WhitepaperBakeryToken TwitterBakeryToken Github

BAKE price calculator

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BAKE
USD
1 BAKE = 0.2669 USD
Last updated (UTC-0)
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